Iran Releases Korean Sailors, Possibly Influenced by US Considerations

[Asia Economy Reporter Yoo In-ho] The Iranian government's decision to release the Korean ship crew members it has detained is interpreted as a move influenced by the inauguration of the Joe Biden U.S. administration.

[Image source=Yonhap News]

It reflects the recognition that South Korea cannot independently resolve the issue of Iran's frozen funds in South Korean banks without U.S. cooperation. There is also concern that if the situation prolongs, it could cause diplomatic backlash.

A Ministry of Foreign Affairs official stated on the 3rd, "Iran said that considering the friendly relations between the two countries and humanitarian aspects, it will release all crew members except for the essential personnel needed to operate the ship."

Earlier, on the 4th of last month, the Iranian Revolutionary Guard Corps seized the Korean-flagged vessel ‘Hanguk Kemi’ near Oman in the Strait of Hormuz, detaining a total of 20 crew members, including five Koreans, as well as crew from Myanmar, Vietnam, and Indonesia.

There was immediate speculation that the Iranian government's true intention lies in the release of $7 billion (7.6 trillion KRW) in funds under the name of the Central Bank of Iran frozen in South Korean commercial banks.

Although Iran claimed that the ship seizure and the frozen funds issue were unrelated, messages suggesting that "progress on the frozen funds issue would help with the release" also surfaced.

Political and diplomatic circles also see the urgent need for the release of the detained captain and ship to be linked to the unfreezing of funds through consultation or consent with the United States. Song Young-gil, Chairman of the National Assembly Foreign Affairs and Unification Committee, advocated for humanitarian aid and COVID-19 countermeasure supplies as solutions even before the release decision.

He appeared on the radio that day and said, "We can use the Swiss account SHITA (humanitarian trade channel) permitted by the U.S. Treasury Department," adding, "We plan to purchase and send items available domestically and utilize Swiss goods desired by Iran. This way, we can meet Iran's demands while complying with international sanctions."

In diplomatic circles, there is analysis that Iran made a friendly gesture following the inauguration of the Biden administration. Since U.S. cooperation is necessary to unfreeze the funds, continuing to detain Koreans could backfire.

However, as the Biden administration is reviewing its overall Middle East policy, including Iran, the likelihood of negotiations with South Korea on the frozen funds issue in the near term appears low. The Biden administration demands additional negotiations from Iran citing changes in Middle East security regarding the restoration of the Iran nuclear deal (JCPOA), while Iran strongly opposes this, making the situation difficult.

An expert in diplomacy said, "Since the Biden administration is reviewing its overall policy toward Iran, it is unlikely to have the capacity to closely consult with South Korea for the time being."

This content was produced with the assistance of AI translation services.